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Jim Cramer Issues Warning About Financial Markets, Crypto Reacts

Thu, 07/20/2023 - 09:00
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Arman Shirinyan
Jim Cramer strikes cryptocurrency trading community with prediction once again, launching series of jokes and comments
Jim Cramer Issues Warning About Financial Markets, Crypto Reacts
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Controversial television personality and former hedge fund manager Jim Cramer has once again stirred the financial market with his latest commentary. Known for his often disputed market predictions, including those about Bitcoin, his recent warning about the financial market has provoked reactions from the cryptocurrency community.

Cramer has gained a reputation for his imprecise price forecasts on numerous assets. In fact, there is a dedicated account that trades against his predictions, which has purportedly garnered a success rate of around 60%, according to the owner. In light of Cramer's recent market warning, crypto participants have responded positively, joking that a genuine bull run might be on the horizon.

Crypto Market Cap
Source: CoinMarketCap

The CNBC host's predictions have always been a topic of discussion among market enthusiasts and experts. His bold and often contradictory statements have landed him in the spotlight more than once, especially when it comes to cryptocurrency. From recommending to sell Bitcoin at its lowest to suggesting to buy at the all-time high, Cramer's crypto market evaluations have been consistently off the mark.

Binance Coin (BNB) Price Analysis for July 18

In the past, Cramer has exhibited a mercurial stance on Bitcoin. In December 2017, when Bitcoin was reaching its then all-time high, he urged viewers to buy the asset. However, he later advised selling it off in 2018 just as crypto winter was setting in. In both instances, the market moved in the opposite direction to his recommendations. More recently, in April 2021, he sold off his Bitcoin portfolio, citing concerns about China's mining dominance. Bitcoin hit an all-time high a few days later.

Given this history, Cramer's recent warning about the financial markets was met with humor and optimism by cryptocurrency enthusiasts. Social media comments suggest that participants viewed his warning as a bullish signal, with one Twitter user quipping, "If Jim Cramer is worried, then it's definitely time to buy."

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.